Suburban Propane Partners LP (SPH) Trading Down 1.4%
Suburban Propane Partners LP (NYSE:SPH) fell 1.4% during mid-day trading on Tuesday . The company traded as low as $33.78 and last traded at $33.86, with a volume of 69,062 shares trading hands. The stock had previously closed at $34.33.
A number of brokerages recently issued reports on SPH. Janney Montgomery Scott began coverage on Suburban Propane Partners in a research report on Wednesday, July 20th. They issued a “neutral” rating and a $30.00 target price on the stock. Zacks Investment Research raised Suburban Propane Partners from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Argus reaffirmed a “hold” rating on shares of Suburban Propane Partners in a research report on Monday, July 11th. Finally, Citigroup Inc. lowered Suburban Propane Partners from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $29.00 to $32.00 in a research report on Friday, May 20th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $32.83.
The firm has a market capitalization of $2.06 billion and a P/E ratio of 294.70. The company has a 50-day moving average of $34.15 and a 200 day moving average of $31.25.
Suburban Propane Partners (NYSE:SPH) last announced its earnings results on Thursday, August 4th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.14. The business had revenue of $205.10 million for the quarter, compared to the consensus estimate of $218.29 million. During the same quarter in the previous year, the company earned ($0.67) EPS. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. Analysts anticipate that Suburban Propane Partners LP will post $0.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 9th. Investors of record on Tuesday, August 2nd were given a dividend of $0.8875 per share. The ex-dividend date of this dividend was Friday, July 29th. This represents a $3.55 annualized dividend and a dividend yield of 10.48%.
Suburban Propane Partners, L.P. (the Partnership) is a marketer and distributor of a range of products meeting the energy needs of the customers. The Company is specialized in the distribution of propane, fuel oil and refined fuels, as well as the marketing of natural gas and electricity in deregulated markets.
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